New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter III - Policy and Certificate Provisions
Subchapter A - Life, Accident and Health Insurance
Part 53 - Life And Annuity Cost Disclosure And Sales Illustrations
Subpart 53-2 - Disclosure Requirements
Section 53-2.6 - Buyer's guide

Universal Citation: 11 NY Comp Codes Rules and Regs ยง 53-2.6

Current through Register Vol. 46, No. 39, September 25, 2024

(a) No life insurance policy shall be delivered or issued for delivery in this State unless the prospective purchaser has been provided a copy of the Life Insurance Buyer's Guide set forth in section 53-2.7 of this Subpart at the time specified in section 3209 (b)(1) of the Insurance Law. If the use of life insurance cost indexes is required by section 3209, the Life Insurance Buyer's Guide shall contain an explanation describing the use of such indexes set forth in section 53-2.8 of this Subpart. A separate addendum for such explanation may be used which is provided at the time that the buyer's guide is delivered.

(b) Where an insurance broker is involved, the insurer or the broker may include a separate notice that states as follows: "Where the term agent is used in the Life Insurance Buyer's Guide or in the addendum to such guide, the term agent shall also mean an insurance broker."

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